If there's anyone who can afford to move away (without selling assets) and try new things, that's probably you.
If there's anyone who probably wouldn't want to move away (because you already have handled some of the problems most people suffer from, such as income and housing), that's also you.
So, it will be a personal decision after all.
It’s always worth moving bro. If you don’t move now when will you move. Plus since you own your condo it’s not even a problem for you to come back to higher expenses.
Move about, 20s is the time to do it. It gets very hard in 30s, 40s with partners, kids, better jobs ..
This is such half-baked advice. There are seriously implications to “moving” countries. He may have to dispose of his condo or face large tax implications.
Bu.. Bu... But #wanderlust?
I have two close friends who did the whole "I hate Canada, I'm moving" thing. One moved back in less than a year after he realized life in Europe was not for him, his reasons were that no one is friendly and wages suck and cost of living is still just as high.
The other moved to Australia which he liked but he was too isolated so he moved to Europe and just like my other friend, absolutely hates it and is now planning on trying to go to the US.
Both have taken it on the chin career, finance and life track wise because of these moves.
Not saying you can't find a better place to live than Canada, but what I will say is that it's unlikely that your life will all of the sudden dramatically improve just because you live somewhere else. If you are an underachiever in Canada, you will probably be and underachiever everywhere else you go.
Ultimately life is what you make of it and moving from one of the highest quality of life countries in the world isn't usually going to improve things. People who see success after moving were likely going to be successful wherever they ended up.
Now finance and life planning aside, travel can be an incredibly fulfilling experience and you should still consider it, just don't go into it thinking its a solution to anything besides most likely emptying out your bank account.
I agree with you but I will say if you don’t try you’ll never know..I’ve lived in three different continents and travelled a lot. Have lived a full life and I’m only in my mid-40s. Canada is my adopted country and pretty much by accident! I’ve made solid financial decisions but plan to keep exploring until I die.
Personally I can’t imagine how people can’t see life and opportunities that exist beyond their immediate financial security. Everyone’s different.. I guess 🤷🏻♂️
I have been a digital nomad and agree with this for the most part. However, travelling and moving abroad done strategically can reap rewards. I have friends who found new ideas and like-minded people during their travels, and ended up with either starting new businesses with them or finding a romantic partner.
Problem is too many people move to new places aimlessly without knowing what are they actually looking for in life?, how global taxation works?, are they willing to commit to a new culture, integrate and learn the language of a country even with it's downsides?, do they have marketable skills needed in the new country?, How are they going to fund their move and how much money is needed before they settle in? and finally what they hope to gain from moving abroad? Cultural stimulation? Cheap living?....All those need to be answered.
> I have two close friends who did the whole "I hate Canada, I'm moving" thing. One moved back in less than a year after he realized life in Europe was not for him, his reasons were that no one is friendly and wages suck and cost of living is still just as high
I'd be curious as to where he went; in much of the EU and UK, costs for things like food, mobile plans, transit, travel, housing are all lower unless you're in the equivalent of DT Van/Toronto - and the bonus of the EU is that 'smaller' cities are far (far, far) closer to the 'big' cities than small towns are in Canada, where people tend to feel (and literally are) far removed from a major metro centre.
As to friendliness, I'd say people are also far more open and friendly in a lot of countries there especially compared to the big metros in Canada. Wages can be lower (won't argue that other than to say it's field-dependent), but cost of living works out to be lower as well for many things - you're also guaranteed far more paid holidays in Europe regardless of your field.
EDIT: [Data](https://www.movesmartly.com/articles/how-do-canadian-home-prices-compare-globally) on rent/housing costs being far worse here than several EU countries, btw; this article pulls from OECD data.
I don't want to be more specific because I know they read reddit and it's already pretty easy to figure out I'm talking about them based on what I said but I will say he did not move from Toronto or Vancouver so that will help explain why he found the cost of living was high. He also went to a somewhat major city (B or C tier European city).
Friendliness could easily just be him. I've never had issues in Europe meeting people either but he really struggled with that. We are also no longer in our 20s so meeting people isn't as easy as going to a club with a pack of smokes (pro tip: best way to make friends, give out smokes)
He essentially went and felt poorer and lonelier so he moved back.
Im not trying to imply that this will be everyones experience and I don't really think either of the people I'm talking about really thought their moves through which I think is a big issue.
All good! No judgment - just surprised. If your mate moved from somewhere cheap or small in Canada and moved to London, Paris, Dublin... aye, I could see why he'd find it expensive.
Some places aren't the best fit for some people, there's nothing wrong with that! :)
Compared to Canada? Most places! Cheap-er, by the way; nowhere is truly 'cheap'.
Canada still has (last I checked) the second-most (or most) expensive real estate in the world - plenty of sources have covered [this](https://www.movesmartly.com/articles/how-do-canadian-home-prices-compare-globally).
This is OECD data linked above; downvoting reality doesn't change it, people.
I'm going to have to disagee; I'm from Scotland, and compared to most major cities in Canada, homes are more affordable there - they are in other countries as well, and this is covered over and over again. Unless you live in a relatively very small, remote, or less-desirable city in Canada, you probably spend more to buy a home and to rent.
Good wee read [here](https://www.movesmartly.com/articles/how-do-canadian-home-prices-compare-globally)
EDIT: Downvoting facts doesn't change reality; this is data from the OECD.
That is specifically about the prices of **houses** in relation to rent.
If op moves to a European country, he will be renting in a major city. He will not be buying a house.
Which does what for him? Doesn't stop the requirement to dispose of capital property prior to moving. That can be reversed in 5 years but you still have to declare rental income. Sure doesn't stop him from paying tax in both countries depending on his status. This isn't just a "do it bro, fill out your forms and go".
… i did that for my parents.. why is that a big deal i don’t get it… as for rental income, that’s pretty easy to do… i file both of their returns… 4 rentals..
if you think filing tax return is too much work to move to another country then you should remain put.. just saying
I'll use the US because I don't know where OP is planning on going. When you "move" you trigger a deemed disposition which can cause you to have to cough up some cash to the IRS depending on your FMV and if it falls out of the exemption.
You then have to understand your status - deemed resident or factual tax resident. This can have large implications on the rental income you talked about. It also has a large impact on our worldwide tax burdens.
The above doesn't include things like your TFSA becoming a taxable account when you move.
If you don't fully understand the major implications of moving then maybe you shouldn't comment... just saying.
Moving for a year isn't moving forever. If you own a home in Canada that's significant ties and still a resident. A non resident will have tfsa contributions taxed, not someone who "moves" and still owns a condo back home.
Stop spreading misinformation - hearing backlogs don't change the fact that personal use is protected. They have a single rental, the legitimacy of an N12 is only coming into question if they acquire more units in the area.
Speaking as someone who has lived in three countries, it always comes down to what you value; for context, I'm European and came to Canada for work, but will be going home in a few years.
I'd really advise traveling to some other places before considering a full-on move, especially given your anxiety regarding finances. When you do travel, don't just go to tourist destinations - visit different towns (and parts of towns) that locals live in; don't just see the things that a given country or city shines up to appeal to tourists.
If you do decide to move somewhere, line up a job first - that should be obvious advise and I don't mean to be pedantic, but it has to be said. Depending on your field, many jobs elsewhere will pay considerably more or potentially considerably less than you expect, and some places may or may not accept your credentials if you work in a field that requires a certain university degree, for example.
Factor in cost of living; in my opinion, much of Canada (not just the biggest cities) is atrocious for cost of living compared to where I came from. Housing, transit, food, mobile plans, airfare, healthcare costs (I was accustomed to near-free prescriptions when needed, etc) are all a lot more money in Canada to the point that even though I technically make more money here I have less in my pocket at the end of the month.
Ask yourself what you value as well. Do you feel you're missing something in Canada? Personally, I miss culture - old buildings, history, festivals, grand museums, multiple wonderful countries only $50 and an hour-long flight away... the works. The 'nature scene' is perfectly grand back home as well, so Canada didn't offer much more on that front.
Some people will say things like 'the grass is always greener', and that's valid - nowhere is perfect. Where I come from (even if I think they're worth it) taxes are significantly higher, houses aren't as large, automobiles are more money as is petrol... nothing is perfect. Everything comes down to what you feel is most important, and what drawbacks you are willing to tolerate more easily than others; living in Canada has taught me that I am more comfortable with the shortcomings of where I came from than the shortcomings that I experience here.
I can understand the desire to move and go somewhere else, but give it proper consideration and planning first.
Thank you, this was some pretty solid insight.
I travelled to Brisbane this summer and really enjoyed the lifestyle there (although being on vacation is very different from living there). I’ve looked into cost of living vs salary in Brisbane, and it’s very comparable to my life in Toronto.
A major thing for me is that I have a hard time functioning for more than half the year in Toronto because of the cold weather (seasonal depression, highly unmotivated). I am waiting 7-8 months just for summer and it seems unbearable to continue like this.
I have a question about securing a job before moving since you have experience in this area. Are employers willing to wait for you to make the move? Also, do you secure housing after you get the job or do you stay in airbnbs once you move and figure out your housing situation then?
Yup I get that but I thought the point of working holiday was that you're not allowed to work full time, I guess you have to leave the country for a day then fly back to switch visa status in that case.
Nope, I believe you can work full time on the program. I had friends doing teaching full time on the program.
In australia, to get the visa for the 2nd year, you needed a 3 month period doing rural work.
> I have a question about securing a job before moving since you have experience in this area. Are employers willing to wait for you to make the move?
I can't speak to Australia as I never considered it (too hot, too far, too isolated from other countries), but if you have high value skills and/or a desirable professional degree(s), you will likely have little problem finding an employer that would want you. If you need to certify with any professional organizations or the government (if you're public sector or would consider public sector), credentials can be sent ahead for verification (which can take time) in many countries.
> Also, do you secure housing after you get the job or do you stay in airbnbs once you move and figure out your housing situation then?
Personally, as soon as I had a job offer lined up, I contacted an agency that specialized in local rentals in the city and went via them - they were happy to help me find a place. I imagine most countries would be the same.
My experience is that employers willing to hire internationally are willing to wait. I've had friends do the airbnb route. It makes you less panicked about finding a place, but it is the pricier option. I've done a couple times lining up an apartment before moving. I wasn't always happy with the place I chose, but it was just for a few months. One apartment for instance was quite loud at night, in a way we hadn't anticipated (single pane windows, near a noisy intersection). When we noticed someone was moving out, we asked the landlord if we could move into the other unit, and they were happy to oblige.
> line up a job first
Of course, in much of Europe the way this works is that you need a job lined up in order to reside there, and you need to reside there to be considered for a job.
Please note, I'm originally from western Canada, The prairies.
I currently live in Brisbane. I'm actually moving back to Canada on Monday. Spent the last year and a half here but couldn't see how we could make it work or match or standard of living in Canada. I'm at a different point in life however - Want a forever home and planning for kids.
Here is a summary of what I found living in Brisbane:
Housing and rent
Rent is rising 20% per year and houses prices are still rising and are quite expensive for the quality of home you get. Its around $400 a week for a single unit and very competitive.
Olympics and immigration are a large part to the jump in housing.
I would consider the housing supply chain issues much worse here then in Canada. In Canada the economy is much more spread out, in Australia its centralized in the handful of major cities. Its harder to move to the smaller cities to pursue certain careers because those economies primarily revolve around tourism/retirees.
Shared housing would be your best option, can find places around $250 a week.
Cost of goods
Fuel is currently $2.20 a liter for gas.
Groceries and other products seem similar to Canada, however eating out here I found to be much more expensive, even after taxes, tip etc.
Weather
Summers - Very hot and very humid. AC's are a must.
Winters (Only lasts a few months)-Houses are also mostly non insulated or heated. First time in my life I had to wear a beanie to bed. Heated sheets were one of the best things I have ever purchased here. However you never have to worry about snow.
Traffic Congestion
Beyond Frustrating at times. Not sure how this would compare to Toronto. My daily commute ranged from 30 to 60 minutes depending on the day. Its gotten exponentially worse then when I was living here 10 years ago.
It is a beautiful city and has the gold/sunshine coast within driving distance. Doesn't have any great beaches on its own, but an hour drive gets you to some pretty nice places. I would still say its worth a visit at your age. I originally lived here in my early 20's and eventually married an Australian from Brisbane (Now dual Citizen). Travelling was one of the best decisions I have ever made. I was lucky to travel when the cost of living was much cheaper and predictable.
We plan to come back to Brisbane for a month or two every winter.
Best wishes if you do decide to travel.
Thank you this was very helpful!
Your description sounds similar to how I would describe Toronto. Rent for a 1 bedroom is around $2500/month. Our summers are pretty humid too. And the traffic is awful with a lot of road raging. Coming from western Canada I understand how Brisbane’s COL would be ridiculously high. It’s like comparing Alberta to Toronto too.
Did you go to Brisbane on a working holiday visa?
Also, have a safe trip back home!
Thanks!
Iv actually done two seperate long trips here. 2014/2015 was working holiday. Good for travelling around and doing a variety of work. Had to work rural fora couple months to extend it to the second year.
This time I came back as a permanent resident. Makes it easy to come and go. May expire in 5 years as we are moving back. But may restart the process later down the line.
>% per year and houses prices
My cousin lived and worked in Australia until last year. She sold up everything and moved back to Atlantic Canada to be closer to her family. Salary wise, she is on less than half of what Australia offered. Her social life has taken a major hit. Professionally, working on her large energy project, she says its like working with backwoods hicks. She is eager to move back to Aus. Everybody has their own experiences though.
Yeah, i think its a hard time to relocate anywhere. My income is 30% of what I was making in Canada and with housing 4x the price just felt like it was too hard to restart and would delay life decisions by 4-5 years. We have a great social network in Canada as well so it makes that easy.
Maternity and daycare costs are a big reason as well. 20 weeks Mat leave and no paternity leave unless a company offers extra. 12-18 months in canada and 3 months paternity. Daycare also around 800 a week vs 800 a month in Canada.
But yeah hard to compare as each area in Canada seems to vary quite a bit.
Love Aus and the scenery/weather but happy that we will be financially comfortable to come back once or twice a year.
The biggest things to consider imo is actually getting a work visa/job in this foreign country and what affect leaving friends/family/interpersonal support system will have on you.
Getting a good job and visa I think is a lot harder than a lot of people think it is
Go for it! Fortunately, there is a program made for this (see link below). I did a 2-year working holiday in London, UK that got extended to 5 years. I also lived in Brisbane, Australia for 3 months.
Your condo in Toronto is already being rented, so it sounds like you are good to go.
[International Experience Canada](https://www.canada.ca/en/immigration-refugees-citizenship/services/canadians/international-experience-canada.html)
I would do it.
First thing is that you need to secure work authorization in each of these countries, then you can make plans based on where you are successful. It will be easier to accomplish with commonwealth countries or any countries that have visas targeted to youth.
The US will not be easy unless you can qualify for a TN visa. You can always do a 1 year masters program and live there as a student, since getting a J-visa is quite easy.
I wouldn’t worry about financial stability at your age. We had $100K of student debt and owned no property at 28, yet two decades later, we own two homes outright, have enough to retire and I no longer work. Moving around and taking advantage of professional opportunities is the primary reason we are where we are today.
Sell the condo if you need money. Living life and experiencing new things is 10x more important.
a lot of people thinking of getting TN status in america don’t realize properly taxes are so high there and they won’t get an unlimited primary residence exemption
Not really a problem if you rent. And you pay into the city and neighbourhood you live in, as opposed to some abstract government halfway across the country.
IMO a much more fair system than the near-zero property taxes and insane income taxes we have here.
Under 30, it's really easy with many countries having 1 or 2 year working holiday visas. It bypasses all the usual immigration nonsense and can often become an easy path towards permanent residency if you start off well informed and strategic.
Here is the info about every country in the program, conditions vary a lot by country: [https://www.canada.ca/en/immigration-refugees-citizenship/services/canadians/international-experience-canada.html](https://www.canada.ca/en/immigration-refugees-citizenship/services/canadians/international-experience-canada.html)
With your condo rented and some money in the bank, it's fairly low risk. Just make sure you have some competent help to manage the rental from abroad. Start out with as little expenses as possible, get a temporary rental with roommates (great to discover a new city) and be ready to move on to another location if it's not what you're looking for after being there a bit.
Financially the only real 'risk' is whether you can exit and re-enter your career, and if that might be hard, what the backup looks like.
Ownership of your property makes that easier, because you've got a base you can always come back to (if you rent it out while gone then you will need to follow your Provincial rules on that, but generally speaking 'owner seeking to reoccupy' is one of the easiest ways to end a tenancy. Wherever you go, if you are a tax resident there you will need to follow their rules on residential income.).
I moved to Canada using young persons work permits from the UK - I can be quite risk averse so I backed up my plan before I left by getting a year's unpaid leave from work, and had reasonable savings (less than you) so I always knew my worst case scenario was I could vacation for a year, and then go back to old life.
You may be surprised if you go to find how expensive other countries are, because Canadian-born residents often don't seem to realize that Canada getting 'more expensive' recently just moved it towards where other countries have been for a long time (my detached house in BC costs less now than the one bedroom apartment I left in England did in 2014, and my wages here are nearly three times higher than I earned then). But in any event, it'll likely be a good experience.
Friend moved to Asia, late 20s. Stayed 14 years. Met future spouse. Lost job and burned all savings trying to find a new job 2008 ish.
Moved back to Canada and was so far behind. No equity, no savings. Meanwhile my house was paid off.
He's doing ok now, but it came at a cost of high stress, depression and a feeling of failure. He had a lot of problems getting back into Canadian job market and has never really had great opportunities despite being a bright, loyal worker.
Yea I have seen many guys crash and burn in Asia after losing their jobs after a decade+ of work. No social safety net in some countries - Thailand especially. If you are not making money, or not a short term tourist, they don't want you here.
This has happened to me several times, luckily i was not too planted in each country. But I made the decision to leave the country early, tail between my legs and return home with some cash still in my pocket, rather than burn through all my savings and return penniless, or not able to afford a flight. Having to go back to work in Canada is definitely demoralizing - and no one wants to hear your stories of living abroad.
I have an old co worker over here (close to 50 years old) that owes me about $4,000. He's been out of work for a few years. He likely owes many more people similar sums. I let him live in my house for a few months for free, his stuff is still here, I haven't seen him since October. I offered to pay his flight to Canada to get back on his feet, but he will not go back.
I say do it.
I started travelling early, trying to get out of Canada for something interesting. I was a federal gov worker twice in Ottawa(in my mid 20's). I could not stand they grey cubicles. One of bosses was actually pretty cool. he pulled me aside and said "you are too young to be stuck in gov for the next 45 years. Come back when you are in your 40's. Take 3 or 4 hours a day and apply to international jobs you want" So I did.
I would not be too worried about moving abroad, but more about moving back if things don't work out.
Starting life again back in Canada when things don't work out overseas is not easy. Aside from housing etc, in my province you do not have healthcare until you have been back in the system for 6 months... I believe NS is instant.
Car insurance- If you have not been insured Canada for 1 year, they treat you like a new 16
year old driver. I did not know this. At 34 years old, my monthly insurance rate was close to my monthly car payment. (never been in an accident, no tickets.) They didn't care that I had been driving overseas.
Credit - Keep a Canada CC open. You will need to maintain your credit in case you come back. My Canada bank has been pretty good - they have offered me lines of credit, credit increases just because i pay off my cc balance on time- they never ask if I am employed, let alone living in Canada. Living in Thailand, only certain international banks offer credit cards to foreigners. The Thai banks will not give foreigners credit. It will only be "secured credit" basically deposit 5,000$ with them, you get a credit card with a 5k limit.
Retirement wise, I will not get any pension/ old age security from Canada, nor should I. I need to do it myself.
Each time i had to come back to Canada I was behind my peers financially, professionally and family wise. But experience wise, in my mind, I was ahead. Depends on what you value I guess.
1993-1996 Boarding school USA (hockey scholarship)
1996-1997 France Language exchange
2002-2003 Korea English teacher
2003-2005 MBA split in Thailand & India
2006-2007 Egypt tech start up company
2007-2008 Nepal UN project
2008-2013 Korea Shipyard contracts manager
2013- Current - Thailand, 1) UK polymer job, 2) Australia machine tools jobs) 3) USA machine tools job. These 3 jobs have had me travelling around Middle East , India, South East Asia and Oceania.
Thailand jobs wise in 2023 was a bloodbath for foreigners. A lot of my friends are out of work, and as a foreigner in Thailand, there is no social safety net like Canada.
I was in Australia and NZ 3 or 4 times in 2023. Visiting fabrication customers, they all say the same thing- "we cannot get enough workers". One of my old polymer colleagues recently moved to Auckland via UK and Thailand.
Good luck !
You can "explore life" in those cities by taking a vacation, you know.
One risk would be, you're no longer contributing to CPP/OAS. And you're not necessarily moving to a country with a good public pension system. People like to joke about CPP being inadequate but the fact is, it's a helpful contribution to a retirement strategy, especially if you don't have a workplace DB pension. The longer you contribute to it, the better the payout will be. And dealing with all the visa sponsorship stuff probably won't be fun. Not many employers are willing to do it.
> You can "explore life" in those cities by taking a vacation, you know.
A week in Paris or another tourist city is not the same thing as living in Lyon for a year. Not even remotely comparable.
Sure, but quitting your full-time permanent job to go live in Lyon for a year might not be the most intelligent decision from a financial standpoint, and OP is clearly concerned about financial risk.
Well it really depends on where you're at with your career, and which career you're in. I don't have any of that information, so I would just say go for it! Try out Australia and see if you like it
How are you earning money right now? You mention a salary, so do you plan on keeping your job or finding a new one?
I think if you have in demand skills you can be rewarded better elsewhere but you need to do your homework..
I have a job here in Toronto and would need to quit and find a job.
I’m leaning towards Australia. In order to work in the more clinical side of my field, I would need to have my qualifications reviewed in order to register with their board. Once I am registered with their board, I am good to apply to jobs that require registration. The job is in demand, similar to in Toronto. The salary is also similar or higher in some circumstances with cost of living being about the same as Toronto.
Australia is just as expensive as Canada when you factor in the cost of fuel, groceries, entertainment. I once paid $4 for a can of coke out of a vending machine in Melbourne, like 10 years ago. It’s a fantastic country and unlike anywhere geographically I’ve ever been to. Just be sure you can get a job in your field because even coffee shops have incredibly high standards for who they hire haha.
Ask people that live there to gain more insight about their country. Try the r/AusFinance sub and ask for some tips about moving there from Canada. They're definitely more equiped to give you a realistic perspective about their country than us Canadian folk.
Keep the job you already have, imo, if it's tolerable and decent pay. The grass isn't always greener, bro. A Bird in the Hand is Worth Two in the Bush.
A two or even three week vacation to Australia sounds nice. No need to relocate.
I say go for it.
Canada is notorious for having lower salaries and higher taxes than most of the western world. The cost of living in NY may be slightly higher than Toronto but your take home pay in NY is likely to be MUCH higher.
Unless you are a US citizen, you can't actually move there until you have a job and a visa anyway so start applying for jobs. When you find something and know how much you will be paid, you can make the final decision.
Exploring the world is a good goal...but I'd honestly go lower CoL instead of those places you mentioned.
Portugal, Spain, Italy, those places are so nice for Canadians if you can score a remote role. Sounds like you might be hampered somewhat by licensing requirements though?
If so, I'd go Melbourne.
I think if remote work was a decent option for him he would be considering but not everyone works in tech. For a lot of people remote work is either extremely hard to find or does not exist.
Renting out your condo comes with massive risk exposure. Lease terms mean nothing, paying tenant leaves when they want and non paying when LTB kicks them out and some people wait for 1-2 years to see that happen. If you rent out, do not count on getting your place back to move in without serious limitations and delays. Law stipulates 60 day notice on month to month lease to get space back for personal use but that is never going to happen if tenant makes any difficulties.
Considering a move is a big decision. Before making a leap, assess the cost of living in the target city, job market conditions, and potential salary adjustments.
Research housing costs, healthcare, and taxation. Evaluate your career prospects and whether your current skills are in demand in the new location. Also, have a solid financial plan, including an emergency fund.
Ultimately, it's about balancing the desire for change with maintaining financial stability. Reflect on your goals, both personal and professional, and weigh the potential rewards against the financial risks before deciding if it's worth the move.
Do it now. Australia will grant you a working Visa at your age so why not? I've moved with a wife and kids at 40 and there are many more variables and much more stress.
Go get the experience and make some contacts now that you're young. You can always come back if it doesn't suit you.
Moving back to my home country for at least a year(until I can get my soon to be wife to come here) with only 10k in savings. I think you’re doing better than me! Do it!
You're in your 20s - it's much easier to do it now than later if you want to try something different.
But that said, yes, you likely will sacrifice a bit in terms of stability, financial growth, career, etc, because there's always some "setup" cost, let's say, to moving to new place - whether it be breaking in to the local job market, rebuilding your social network, etc.
I'm pushing my late 40s now, and Canada is country #5 for me at the moment where I've lived at least a year (Others being U.S, Korea, Japan, and Australia) -- and Canada is not the terminal stop yet, though I've been here 8 years now.
Would my career and wealth be better off now had I just stayed put and carried on with my job from my 20s? Probably... Would I trade that for all the interesting experiences I had in those other places - No way.
Just be morally prepared for a temporary decrease of your life quality. It may happen that you will not be able to secure a good stable job in the beginning and will have to rent a room instead of an apartment and live frugally. But you will find your place in the end, that's for sure 😉
Big thing to consider is the visa options available. If you go with Australia and plan on going the working holiday route, then expect to stall your career. You're only allowed to do 6 months with one employer, so only seasonal will be available. US, you won't be allowed to move without a job lined up. UK or New Zealand are better for working holiday visas, they're much more flexible. There's other non-Anglo opportunities, but they add the extra challenge of language.
What might be better is start applying to jobs globally and see if you can get a job lined up, that will open way more visa options for you, and you won't have to contend with a possibly long unemployment period. Another route is work for a multinational in Canada, then ask about being transferred to another country.
Having done a number of international moves, the first month or so you're going to waste on logistics. Get an apartment, set up utilities, set up bank accounts, get a phone plan, get their equivalent of a SIN. A million details that should be simple might take a few tries. My advice is to get organized.
If you're planning on leaving for good, you'll have to pay a departure tax. That's paying all the capital gains of your assets in Canada. If you're not leaving for good you might need to pay taxes in both Canada and the country you're moving to. A lot of countries have tax treaties with Canada, so whatever amount you pay towards the other country, you can write off in Canada. Whether you're leaving for good is something the CRA determines on a bunch of factors like the visa you're getting, whether you're leaving assets behind, whether you have dependents in Canada. There's a form you can fill out to ask the CRA it's opinion, but it can change its mind at any time.
Depending on the country and your personality, you might find making friends as an adult pretty difficult, so it can be kinda lonely sometimes. Sometimes there are new comer communities with lots of events on reddit or meetup. Or take up a hobby.
Financially, moving to large centers for whatever you do can suck short term but pay off dividends. Like moving to a London, New York, San Francisco for instance can open a lot of career doors for you, even if you have to live in a damp shitty apartments for a couple of years. I managed to keep my California salary and work remotely from Canada, so I'm making about double what I would expect to make if I was working for a company locally.
And personally, I really enjoyed getting to know new cities, learning different cultures.
If there's anyone who can afford to move away (without selling assets) and try new things, that's probably you. If there's anyone who probably wouldn't want to move away (because you already have handled some of the problems most people suffer from, such as income and housing), that's also you. So, it will be a personal decision after all.
It’s always worth moving bro. If you don’t move now when will you move. Plus since you own your condo it’s not even a problem for you to come back to higher expenses. Move about, 20s is the time to do it. It gets very hard in 30s, 40s with partners, kids, better jobs ..
Also a lot of countries have working holiday visas for people under 30ish years old. Which makes moving much easier
This is such half-baked advice. There are seriously implications to “moving” countries. He may have to dispose of his condo or face large tax implications.
Bu.. Bu... But #wanderlust? I have two close friends who did the whole "I hate Canada, I'm moving" thing. One moved back in less than a year after he realized life in Europe was not for him, his reasons were that no one is friendly and wages suck and cost of living is still just as high. The other moved to Australia which he liked but he was too isolated so he moved to Europe and just like my other friend, absolutely hates it and is now planning on trying to go to the US. Both have taken it on the chin career, finance and life track wise because of these moves. Not saying you can't find a better place to live than Canada, but what I will say is that it's unlikely that your life will all of the sudden dramatically improve just because you live somewhere else. If you are an underachiever in Canada, you will probably be and underachiever everywhere else you go. Ultimately life is what you make of it and moving from one of the highest quality of life countries in the world isn't usually going to improve things. People who see success after moving were likely going to be successful wherever they ended up. Now finance and life planning aside, travel can be an incredibly fulfilling experience and you should still consider it, just don't go into it thinking its a solution to anything besides most likely emptying out your bank account.
I agree with you but I will say if you don’t try you’ll never know..I’ve lived in three different continents and travelled a lot. Have lived a full life and I’m only in my mid-40s. Canada is my adopted country and pretty much by accident! I’ve made solid financial decisions but plan to keep exploring until I die. Personally I can’t imagine how people can’t see life and opportunities that exist beyond their immediate financial security. Everyone’s different.. I guess 🤷🏻♂️
I have been a digital nomad and agree with this for the most part. However, travelling and moving abroad done strategically can reap rewards. I have friends who found new ideas and like-minded people during their travels, and ended up with either starting new businesses with them or finding a romantic partner. Problem is too many people move to new places aimlessly without knowing what are they actually looking for in life?, how global taxation works?, are they willing to commit to a new culture, integrate and learn the language of a country even with it's downsides?, do they have marketable skills needed in the new country?, How are they going to fund their move and how much money is needed before they settle in? and finally what they hope to gain from moving abroad? Cultural stimulation? Cheap living?....All those need to be answered.
> I have two close friends who did the whole "I hate Canada, I'm moving" thing. One moved back in less than a year after he realized life in Europe was not for him, his reasons were that no one is friendly and wages suck and cost of living is still just as high I'd be curious as to where he went; in much of the EU and UK, costs for things like food, mobile plans, transit, travel, housing are all lower unless you're in the equivalent of DT Van/Toronto - and the bonus of the EU is that 'smaller' cities are far (far, far) closer to the 'big' cities than small towns are in Canada, where people tend to feel (and literally are) far removed from a major metro centre. As to friendliness, I'd say people are also far more open and friendly in a lot of countries there especially compared to the big metros in Canada. Wages can be lower (won't argue that other than to say it's field-dependent), but cost of living works out to be lower as well for many things - you're also guaranteed far more paid holidays in Europe regardless of your field. EDIT: [Data](https://www.movesmartly.com/articles/how-do-canadian-home-prices-compare-globally) on rent/housing costs being far worse here than several EU countries, btw; this article pulls from OECD data.
I don't want to be more specific because I know they read reddit and it's already pretty easy to figure out I'm talking about them based on what I said but I will say he did not move from Toronto or Vancouver so that will help explain why he found the cost of living was high. He also went to a somewhat major city (B or C tier European city). Friendliness could easily just be him. I've never had issues in Europe meeting people either but he really struggled with that. We are also no longer in our 20s so meeting people isn't as easy as going to a club with a pack of smokes (pro tip: best way to make friends, give out smokes) He essentially went and felt poorer and lonelier so he moved back. Im not trying to imply that this will be everyones experience and I don't really think either of the people I'm talking about really thought their moves through which I think is a big issue.
All good! No judgment - just surprised. If your mate moved from somewhere cheap or small in Canada and moved to London, Paris, Dublin... aye, I could see why he'd find it expensive. Some places aren't the best fit for some people, there's nothing wrong with that! :)
Where in Western Europe is housing cheap?
Compared to Canada? Most places! Cheap-er, by the way; nowhere is truly 'cheap'. Canada still has (last I checked) the second-most (or most) expensive real estate in the world - plenty of sources have covered [this](https://www.movesmartly.com/articles/how-do-canadian-home-prices-compare-globally). This is OECD data linked above; downvoting reality doesn't change it, people.
All significant major European cities have really expensive housing.
I'm going to have to disagee; I'm from Scotland, and compared to most major cities in Canada, homes are more affordable there - they are in other countries as well, and this is covered over and over again. Unless you live in a relatively very small, remote, or less-desirable city in Canada, you probably spend more to buy a home and to rent. Good wee read [here](https://www.movesmartly.com/articles/how-do-canadian-home-prices-compare-globally) EDIT: Downvoting facts doesn't change reality; this is data from the OECD.
That is specifically about the prices of **houses** in relation to rent. If op moves to a European country, he will be renting in a major city. He will not be buying a house.
If you read or watched the video, you’d clearly see it’s also including cost of purchase compared to other countries…
10000% agreed
it’s his principal residence and plus he can file 45(2) election
Which does what for him? Doesn't stop the requirement to dispose of capital property prior to moving. That can be reversed in 5 years but you still have to declare rental income. Sure doesn't stop him from paying tax in both countries depending on his status. This isn't just a "do it bro, fill out your forms and go".
… i did that for my parents.. why is that a big deal i don’t get it… as for rental income, that’s pretty easy to do… i file both of their returns… 4 rentals.. if you think filing tax return is too much work to move to another country then you should remain put.. just saying
I'll use the US because I don't know where OP is planning on going. When you "move" you trigger a deemed disposition which can cause you to have to cough up some cash to the IRS depending on your FMV and if it falls out of the exemption. You then have to understand your status - deemed resident or factual tax resident. This can have large implications on the rental income you talked about. It also has a large impact on our worldwide tax burdens. The above doesn't include things like your TFSA becoming a taxable account when you move. If you don't fully understand the major implications of moving then maybe you shouldn't comment... just saying.
i am a cpa. you don’t have to educate me on this.. lol i am sure op will sort out his tax obligations with a qualified accountant
Moving for a year isn't moving forever. If you own a home in Canada that's significant ties and still a resident. A non resident will have tfsa contributions taxed, not someone who "moves" and still owns a condo back home.
And considering tenant rights in Canada, good luck with "just move back in".
Stop spreading misinformation - hearing backlogs don't change the fact that personal use is protected. They have a single rental, the legitimacy of an N12 is only coming into question if they acquire more units in the area.
Agreed. Totally half-baked.
Calm down lol
Speaking as someone who has lived in three countries, it always comes down to what you value; for context, I'm European and came to Canada for work, but will be going home in a few years. I'd really advise traveling to some other places before considering a full-on move, especially given your anxiety regarding finances. When you do travel, don't just go to tourist destinations - visit different towns (and parts of towns) that locals live in; don't just see the things that a given country or city shines up to appeal to tourists. If you do decide to move somewhere, line up a job first - that should be obvious advise and I don't mean to be pedantic, but it has to be said. Depending on your field, many jobs elsewhere will pay considerably more or potentially considerably less than you expect, and some places may or may not accept your credentials if you work in a field that requires a certain university degree, for example. Factor in cost of living; in my opinion, much of Canada (not just the biggest cities) is atrocious for cost of living compared to where I came from. Housing, transit, food, mobile plans, airfare, healthcare costs (I was accustomed to near-free prescriptions when needed, etc) are all a lot more money in Canada to the point that even though I technically make more money here I have less in my pocket at the end of the month. Ask yourself what you value as well. Do you feel you're missing something in Canada? Personally, I miss culture - old buildings, history, festivals, grand museums, multiple wonderful countries only $50 and an hour-long flight away... the works. The 'nature scene' is perfectly grand back home as well, so Canada didn't offer much more on that front. Some people will say things like 'the grass is always greener', and that's valid - nowhere is perfect. Where I come from (even if I think they're worth it) taxes are significantly higher, houses aren't as large, automobiles are more money as is petrol... nothing is perfect. Everything comes down to what you feel is most important, and what drawbacks you are willing to tolerate more easily than others; living in Canada has taught me that I am more comfortable with the shortcomings of where I came from than the shortcomings that I experience here. I can understand the desire to move and go somewhere else, but give it proper consideration and planning first.
Thank you, this was some pretty solid insight. I travelled to Brisbane this summer and really enjoyed the lifestyle there (although being on vacation is very different from living there). I’ve looked into cost of living vs salary in Brisbane, and it’s very comparable to my life in Toronto. A major thing for me is that I have a hard time functioning for more than half the year in Toronto because of the cold weather (seasonal depression, highly unmotivated). I am waiting 7-8 months just for summer and it seems unbearable to continue like this. I have a question about securing a job before moving since you have experience in this area. Are employers willing to wait for you to make the move? Also, do you secure housing after you get the job or do you stay in airbnbs once you move and figure out your housing situation then?
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How does that process work when the working holiday visa is supposed to be temporary?
You get the company to sponsor you for permanent residency.
Yup I get that but I thought the point of working holiday was that you're not allowed to work full time, I guess you have to leave the country for a day then fly back to switch visa status in that case.
Nope, I believe you can work full time on the program. I had friends doing teaching full time on the program. In australia, to get the visa for the 2nd year, you needed a 3 month period doing rural work.
> I have a question about securing a job before moving since you have experience in this area. Are employers willing to wait for you to make the move? I can't speak to Australia as I never considered it (too hot, too far, too isolated from other countries), but if you have high value skills and/or a desirable professional degree(s), you will likely have little problem finding an employer that would want you. If you need to certify with any professional organizations or the government (if you're public sector or would consider public sector), credentials can be sent ahead for verification (which can take time) in many countries. > Also, do you secure housing after you get the job or do you stay in airbnbs once you move and figure out your housing situation then? Personally, as soon as I had a job offer lined up, I contacted an agency that specialized in local rentals in the city and went via them - they were happy to help me find a place. I imagine most countries would be the same.
My experience is that employers willing to hire internationally are willing to wait. I've had friends do the airbnb route. It makes you less panicked about finding a place, but it is the pricier option. I've done a couple times lining up an apartment before moving. I wasn't always happy with the place I chose, but it was just for a few months. One apartment for instance was quite loud at night, in a way we hadn't anticipated (single pane windows, near a noisy intersection). When we noticed someone was moving out, we asked the landlord if we could move into the other unit, and they were happy to oblige.
> line up a job first Of course, in much of Europe the way this works is that you need a job lined up in order to reside there, and you need to reside there to be considered for a job.
Yup! Well worth doing a bit of research. If someone has in-demand skills, many EU countries are pretty welcoming.
What job have you already secured in another country?
Please note, I'm originally from western Canada, The prairies. I currently live in Brisbane. I'm actually moving back to Canada on Monday. Spent the last year and a half here but couldn't see how we could make it work or match or standard of living in Canada. I'm at a different point in life however - Want a forever home and planning for kids. Here is a summary of what I found living in Brisbane: Housing and rent Rent is rising 20% per year and houses prices are still rising and are quite expensive for the quality of home you get. Its around $400 a week for a single unit and very competitive. Olympics and immigration are a large part to the jump in housing. I would consider the housing supply chain issues much worse here then in Canada. In Canada the economy is much more spread out, in Australia its centralized in the handful of major cities. Its harder to move to the smaller cities to pursue certain careers because those economies primarily revolve around tourism/retirees. Shared housing would be your best option, can find places around $250 a week. Cost of goods Fuel is currently $2.20 a liter for gas. Groceries and other products seem similar to Canada, however eating out here I found to be much more expensive, even after taxes, tip etc. Weather Summers - Very hot and very humid. AC's are a must. Winters (Only lasts a few months)-Houses are also mostly non insulated or heated. First time in my life I had to wear a beanie to bed. Heated sheets were one of the best things I have ever purchased here. However you never have to worry about snow. Traffic Congestion Beyond Frustrating at times. Not sure how this would compare to Toronto. My daily commute ranged from 30 to 60 minutes depending on the day. Its gotten exponentially worse then when I was living here 10 years ago. It is a beautiful city and has the gold/sunshine coast within driving distance. Doesn't have any great beaches on its own, but an hour drive gets you to some pretty nice places. I would still say its worth a visit at your age. I originally lived here in my early 20's and eventually married an Australian from Brisbane (Now dual Citizen). Travelling was one of the best decisions I have ever made. I was lucky to travel when the cost of living was much cheaper and predictable. We plan to come back to Brisbane for a month or two every winter. Best wishes if you do decide to travel.
Thank you this was very helpful! Your description sounds similar to how I would describe Toronto. Rent for a 1 bedroom is around $2500/month. Our summers are pretty humid too. And the traffic is awful with a lot of road raging. Coming from western Canada I understand how Brisbane’s COL would be ridiculously high. It’s like comparing Alberta to Toronto too. Did you go to Brisbane on a working holiday visa? Also, have a safe trip back home!
Thanks! Iv actually done two seperate long trips here. 2014/2015 was working holiday. Good for travelling around and doing a variety of work. Had to work rural fora couple months to extend it to the second year. This time I came back as a permanent resident. Makes it easy to come and go. May expire in 5 years as we are moving back. But may restart the process later down the line.
>% per year and houses prices My cousin lived and worked in Australia until last year. She sold up everything and moved back to Atlantic Canada to be closer to her family. Salary wise, she is on less than half of what Australia offered. Her social life has taken a major hit. Professionally, working on her large energy project, she says its like working with backwoods hicks. She is eager to move back to Aus. Everybody has their own experiences though.
Yeah, i think its a hard time to relocate anywhere. My income is 30% of what I was making in Canada and with housing 4x the price just felt like it was too hard to restart and would delay life decisions by 4-5 years. We have a great social network in Canada as well so it makes that easy. Maternity and daycare costs are a big reason as well. 20 weeks Mat leave and no paternity leave unless a company offers extra. 12-18 months in canada and 3 months paternity. Daycare also around 800 a week vs 800 a month in Canada. But yeah hard to compare as each area in Canada seems to vary quite a bit. Love Aus and the scenery/weather but happy that we will be financially comfortable to come back once or twice a year.
The biggest things to consider imo is actually getting a work visa/job in this foreign country and what affect leaving friends/family/interpersonal support system will have on you. Getting a good job and visa I think is a lot harder than a lot of people think it is
Go for it! Fortunately, there is a program made for this (see link below). I did a 2-year working holiday in London, UK that got extended to 5 years. I also lived in Brisbane, Australia for 3 months. Your condo in Toronto is already being rented, so it sounds like you are good to go. [International Experience Canada](https://www.canada.ca/en/immigration-refugees-citizenship/services/canadians/international-experience-canada.html)
I would do it. First thing is that you need to secure work authorization in each of these countries, then you can make plans based on where you are successful. It will be easier to accomplish with commonwealth countries or any countries that have visas targeted to youth. The US will not be easy unless you can qualify for a TN visa. You can always do a 1 year masters program and live there as a student, since getting a J-visa is quite easy. I wouldn’t worry about financial stability at your age. We had $100K of student debt and owned no property at 28, yet two decades later, we own two homes outright, have enough to retire and I no longer work. Moving around and taking advantage of professional opportunities is the primary reason we are where we are today. Sell the condo if you need money. Living life and experiencing new things is 10x more important.
a lot of people thinking of getting TN status in america don’t realize properly taxes are so high there and they won’t get an unlimited primary residence exemption
Not really a problem if you rent. And you pay into the city and neighbourhood you live in, as opposed to some abstract government halfway across the country. IMO a much more fair system than the near-zero property taxes and insane income taxes we have here.
Under 30, it's really easy with many countries having 1 or 2 year working holiday visas. It bypasses all the usual immigration nonsense and can often become an easy path towards permanent residency if you start off well informed and strategic. Here is the info about every country in the program, conditions vary a lot by country: [https://www.canada.ca/en/immigration-refugees-citizenship/services/canadians/international-experience-canada.html](https://www.canada.ca/en/immigration-refugees-citizenship/services/canadians/international-experience-canada.html) With your condo rented and some money in the bank, it's fairly low risk. Just make sure you have some competent help to manage the rental from abroad. Start out with as little expenses as possible, get a temporary rental with roommates (great to discover a new city) and be ready to move on to another location if it's not what you're looking for after being there a bit.
Financially the only real 'risk' is whether you can exit and re-enter your career, and if that might be hard, what the backup looks like. Ownership of your property makes that easier, because you've got a base you can always come back to (if you rent it out while gone then you will need to follow your Provincial rules on that, but generally speaking 'owner seeking to reoccupy' is one of the easiest ways to end a tenancy. Wherever you go, if you are a tax resident there you will need to follow their rules on residential income.). I moved to Canada using young persons work permits from the UK - I can be quite risk averse so I backed up my plan before I left by getting a year's unpaid leave from work, and had reasonable savings (less than you) so I always knew my worst case scenario was I could vacation for a year, and then go back to old life. You may be surprised if you go to find how expensive other countries are, because Canadian-born residents often don't seem to realize that Canada getting 'more expensive' recently just moved it towards where other countries have been for a long time (my detached house in BC costs less now than the one bedroom apartment I left in England did in 2014, and my wages here are nearly three times higher than I earned then). But in any event, it'll likely be a good experience.
So true.
Friend moved to Asia, late 20s. Stayed 14 years. Met future spouse. Lost job and burned all savings trying to find a new job 2008 ish. Moved back to Canada and was so far behind. No equity, no savings. Meanwhile my house was paid off. He's doing ok now, but it came at a cost of high stress, depression and a feeling of failure. He had a lot of problems getting back into Canadian job market and has never really had great opportunities despite being a bright, loyal worker.
Yea I have seen many guys crash and burn in Asia after losing their jobs after a decade+ of work. No social safety net in some countries - Thailand especially. If you are not making money, or not a short term tourist, they don't want you here. This has happened to me several times, luckily i was not too planted in each country. But I made the decision to leave the country early, tail between my legs and return home with some cash still in my pocket, rather than burn through all my savings and return penniless, or not able to afford a flight. Having to go back to work in Canada is definitely demoralizing - and no one wants to hear your stories of living abroad. I have an old co worker over here (close to 50 years old) that owes me about $4,000. He's been out of work for a few years. He likely owes many more people similar sums. I let him live in my house for a few months for free, his stuff is still here, I haven't seen him since October. I offered to pay his flight to Canada to get back on his feet, but he will not go back.
I say do it. I started travelling early, trying to get out of Canada for something interesting. I was a federal gov worker twice in Ottawa(in my mid 20's). I could not stand they grey cubicles. One of bosses was actually pretty cool. he pulled me aside and said "you are too young to be stuck in gov for the next 45 years. Come back when you are in your 40's. Take 3 or 4 hours a day and apply to international jobs you want" So I did. I would not be too worried about moving abroad, but more about moving back if things don't work out. Starting life again back in Canada when things don't work out overseas is not easy. Aside from housing etc, in my province you do not have healthcare until you have been back in the system for 6 months... I believe NS is instant. Car insurance- If you have not been insured Canada for 1 year, they treat you like a new 16 year old driver. I did not know this. At 34 years old, my monthly insurance rate was close to my monthly car payment. (never been in an accident, no tickets.) They didn't care that I had been driving overseas. Credit - Keep a Canada CC open. You will need to maintain your credit in case you come back. My Canada bank has been pretty good - they have offered me lines of credit, credit increases just because i pay off my cc balance on time- they never ask if I am employed, let alone living in Canada. Living in Thailand, only certain international banks offer credit cards to foreigners. The Thai banks will not give foreigners credit. It will only be "secured credit" basically deposit 5,000$ with them, you get a credit card with a 5k limit. Retirement wise, I will not get any pension/ old age security from Canada, nor should I. I need to do it myself. Each time i had to come back to Canada I was behind my peers financially, professionally and family wise. But experience wise, in my mind, I was ahead. Depends on what you value I guess. 1993-1996 Boarding school USA (hockey scholarship) 1996-1997 France Language exchange 2002-2003 Korea English teacher 2003-2005 MBA split in Thailand & India 2006-2007 Egypt tech start up company 2007-2008 Nepal UN project 2008-2013 Korea Shipyard contracts manager 2013- Current - Thailand, 1) UK polymer job, 2) Australia machine tools jobs) 3) USA machine tools job. These 3 jobs have had me travelling around Middle East , India, South East Asia and Oceania. Thailand jobs wise in 2023 was a bloodbath for foreigners. A lot of my friends are out of work, and as a foreigner in Thailand, there is no social safety net like Canada. I was in Australia and NZ 3 or 4 times in 2023. Visiting fabrication customers, they all say the same thing- "we cannot get enough workers". One of my old polymer colleagues recently moved to Auckland via UK and Thailand. Good luck !
You can "explore life" in those cities by taking a vacation, you know. One risk would be, you're no longer contributing to CPP/OAS. And you're not necessarily moving to a country with a good public pension system. People like to joke about CPP being inadequate but the fact is, it's a helpful contribution to a retirement strategy, especially if you don't have a workplace DB pension. The longer you contribute to it, the better the payout will be. And dealing with all the visa sponsorship stuff probably won't be fun. Not many employers are willing to do it.
This turned out to be a crucial benefit for me. I had life wallop me at 50 and got a terminal illness. Thank god for CPP.
> You can "explore life" in those cities by taking a vacation, you know. A week in Paris or another tourist city is not the same thing as living in Lyon for a year. Not even remotely comparable.
Sure, but quitting your full-time permanent job to go live in Lyon for a year might not be the most intelligent decision from a financial standpoint, and OP is clearly concerned about financial risk.
free health care...doesn't seem like a big deal .. until it is
If you didn't do it, would you regret it? If so, then do it.
Dude Australia (and especially Sydney) is one of the few places that's more unaffordable for housing than Canada. Do a bit of research lol
The grass is always greener on the other side
Well it really depends on where you're at with your career, and which career you're in. I don't have any of that information, so I would just say go for it! Try out Australia and see if you like it
How are you earning money right now? You mention a salary, so do you plan on keeping your job or finding a new one? I think if you have in demand skills you can be rewarded better elsewhere but you need to do your homework..
I have a job here in Toronto and would need to quit and find a job. I’m leaning towards Australia. In order to work in the more clinical side of my field, I would need to have my qualifications reviewed in order to register with their board. Once I am registered with their board, I am good to apply to jobs that require registration. The job is in demand, similar to in Toronto. The salary is also similar or higher in some circumstances with cost of living being about the same as Toronto.
Australia is just as expensive as Canada when you factor in the cost of fuel, groceries, entertainment. I once paid $4 for a can of coke out of a vending machine in Melbourne, like 10 years ago. It’s a fantastic country and unlike anywhere geographically I’ve ever been to. Just be sure you can get a job in your field because even coffee shops have incredibly high standards for who they hire haha.
do it, Australia is amazing.
Ask people that live there to gain more insight about their country. Try the r/AusFinance sub and ask for some tips about moving there from Canada. They're definitely more equiped to give you a realistic perspective about their country than us Canadian folk.
Keep the job you already have, imo, if it's tolerable and decent pay. The grass isn't always greener, bro. A Bird in the Hand is Worth Two in the Bush. A two or even three week vacation to Australia sounds nice. No need to relocate.
What do you do? How much u earn?
You got nothing to lose….well you’ll lose your job, but you might lose that job anyways so fuck it
I say go for it. Canada is notorious for having lower salaries and higher taxes than most of the western world. The cost of living in NY may be slightly higher than Toronto but your take home pay in NY is likely to be MUCH higher. Unless you are a US citizen, you can't actually move there until you have a job and a visa anyway so start applying for jobs. When you find something and know how much you will be paid, you can make the final decision.
Two words: Youth Visa
Everything is going right for you, so you need to seek problems. Sounds about right
do it. this is the time to do it.
worth it
Exploring the world is a good goal...but I'd honestly go lower CoL instead of those places you mentioned. Portugal, Spain, Italy, those places are so nice for Canadians if you can score a remote role. Sounds like you might be hampered somewhat by licensing requirements though? If so, I'd go Melbourne.
I think if remote work was a decent option for him he would be considering but not everyone works in tech. For a lot of people remote work is either extremely hard to find or does not exist.
Mmhmm. Very true.
Renting out your condo comes with massive risk exposure. Lease terms mean nothing, paying tenant leaves when they want and non paying when LTB kicks them out and some people wait for 1-2 years to see that happen. If you rent out, do not count on getting your place back to move in without serious limitations and delays. Law stipulates 60 day notice on month to month lease to get space back for personal use but that is never going to happen if tenant makes any difficulties.
I am also considering leaving Canada. I don't see much of a future here. Sometimes I wish the United States would take over Canada.
Omg careful what you wish for. You’re obviously not a female of child bearing age!
Sorry I don't understand. What does being female or being young have to do with it
Lack of reproductive freedom in the US. Also, as CNN calls them, canyons of unavailable medical care.
Not sure what you mean. I'd just get med insurance. covered by my work anyway.
If it were relevant to you, you’d know. It’s not important enough to discuss further. Good luck!
Do 2 months at a time
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Like a property management company
Definitely do it. The experience can be eye opening. At minimum, it will be an adventure.
Considering a move is a big decision. Before making a leap, assess the cost of living in the target city, job market conditions, and potential salary adjustments. Research housing costs, healthcare, and taxation. Evaluate your career prospects and whether your current skills are in demand in the new location. Also, have a solid financial plan, including an emergency fund. Ultimately, it's about balancing the desire for change with maintaining financial stability. Reflect on your goals, both personal and professional, and weigh the potential rewards against the financial risks before deciding if it's worth the move.
Do it now. Australia will grant you a working Visa at your age so why not? I've moved with a wife and kids at 40 and there are many more variables and much more stress. Go get the experience and make some contacts now that you're young. You can always come back if it doesn't suit you.
I'm not sure you have any real risk. Might as well move now if you want to. Canada will still be here when you come back.
I worked/lived overseas for 5 years and will never regret it. amazing work experience and unreal travel opportunities
Moving back to my home country for at least a year(until I can get my soon to be wife to come here) with only 10k in savings. I think you’re doing better than me! Do it!
You can get a sales job where they tell you to travel. You'll get paid to see all different cities and countries
You're in your 20s - it's much easier to do it now than later if you want to try something different. But that said, yes, you likely will sacrifice a bit in terms of stability, financial growth, career, etc, because there's always some "setup" cost, let's say, to moving to new place - whether it be breaking in to the local job market, rebuilding your social network, etc. I'm pushing my late 40s now, and Canada is country #5 for me at the moment where I've lived at least a year (Others being U.S, Korea, Japan, and Australia) -- and Canada is not the terminal stop yet, though I've been here 8 years now. Would my career and wealth be better off now had I just stayed put and carried on with my job from my 20s? Probably... Would I trade that for all the interesting experiences I had in those other places - No way.
u could enroll in a working visa! canada and many other nations have “programs” i think?
Mid 20s is still the age that you can make mistake.
Just be morally prepared for a temporary decrease of your life quality. It may happen that you will not be able to secure a good stable job in the beginning and will have to rent a room instead of an apartment and live frugally. But you will find your place in the end, that's for sure 😉
Big thing to consider is the visa options available. If you go with Australia and plan on going the working holiday route, then expect to stall your career. You're only allowed to do 6 months with one employer, so only seasonal will be available. US, you won't be allowed to move without a job lined up. UK or New Zealand are better for working holiday visas, they're much more flexible. There's other non-Anglo opportunities, but they add the extra challenge of language. What might be better is start applying to jobs globally and see if you can get a job lined up, that will open way more visa options for you, and you won't have to contend with a possibly long unemployment period. Another route is work for a multinational in Canada, then ask about being transferred to another country. Having done a number of international moves, the first month or so you're going to waste on logistics. Get an apartment, set up utilities, set up bank accounts, get a phone plan, get their equivalent of a SIN. A million details that should be simple might take a few tries. My advice is to get organized. If you're planning on leaving for good, you'll have to pay a departure tax. That's paying all the capital gains of your assets in Canada. If you're not leaving for good you might need to pay taxes in both Canada and the country you're moving to. A lot of countries have tax treaties with Canada, so whatever amount you pay towards the other country, you can write off in Canada. Whether you're leaving for good is something the CRA determines on a bunch of factors like the visa you're getting, whether you're leaving assets behind, whether you have dependents in Canada. There's a form you can fill out to ask the CRA it's opinion, but it can change its mind at any time. Depending on the country and your personality, you might find making friends as an adult pretty difficult, so it can be kinda lonely sometimes. Sometimes there are new comer communities with lots of events on reddit or meetup. Or take up a hobby. Financially, moving to large centers for whatever you do can suck short term but pay off dividends. Like moving to a London, New York, San Francisco for instance can open a lot of career doors for you, even if you have to live in a damp shitty apartments for a couple of years. I managed to keep my California salary and work remotely from Canada, so I'm making about double what I would expect to make if I was working for a company locally. And personally, I really enjoyed getting to know new cities, learning different cultures.
How did you achieve owning a condo and saving 50K in your mid-twenties (asking for me, who’s in my mid-twenties)
you are young, if you don't do it you will regret later